Canada Targets Deeper Ties as Trade with Nigeria Surpasses $3B

Canada Targets Deeper Ties as Nigeria Trade Hits $3B

Nigeria and Canada have reaffirmed their commitment to strengthening bilateral economic relations as trade volume between both countries surpassed $3 billion in 2025. Randeep Sarai, Canada’s Secretary of State for International Development, disclosed this during a reception held in his honour at the Deputy High Commission of Canada in Lagos on May 23, 2026.

Describing Nigeria as a strategic partner, Sarai noted that the most populous Black nation is Canada’s second-largest trading partner in Africa. “Nigeria is central to that movement,” he said. “Trade and mutual growth are priorities for Canada, and increasingly development and trade are no longer separate conversations.”

$30 Million New Support Package

The Canadian official disclosed that Canada is ready to commit over $30 million in new support for initiatives in Nigeria and across West Africa. The new support will focus on strengthening health systems, supporting women entrepreneurs and small businesses, promoting climate resilience and clean growth, and improving governance, digital resilience and access to justice across the region.

“Together they will help build more inclusive and resilient institutions and economy across the region,” Sarai added. He also highlighted the strong people-to-people ties between both countries, noting that over 120,000 Nigerians now live in Canada. “That friendship is really, really deep and that makes Nigeria a strategic gateway for Canadian businesses and a natural partner for the long term.”

Key Areas of Cooperation

Canada’s areas of interest in Nigeria include infrastructure, agriculture, clean energy, health, digital innovation and mining. Sarai stressed that countries now seek reliable partners that “show up and follow through.” During his visit, the Canadian official toured several projects supported through partnerships involving Canada, including a Primary Health Centre, renewable energy projects, girls’ education and digital skills initiatives, and an AI innovation centre supported by the United Nations Development Programme.

Folashade Bada Ambrose-Medebem, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, said the state government remained committed to expanding economic cooperation with Canada. She said Lagos was pursuing its goal of becoming a “21st-century economy” through strategic initiatives including the Lagos State Export Readiness Programme, which has trained more than 250 businesses on export opportunities.

Invest in Lagos Conference

Ambrose-Medebem also announced the forthcoming Invest in Lagos 3.0 conference scheduled for June 8 and 9, describing it as a platform to connect global investors with opportunities in Africa. The conference aims to highlight investment opportunities across various sectors and attract foreign direct investment into Lagos State.

The strengthening of Nigeria-Canada trade relations comes at a time when both countries are seeking to diversify their economic partnerships and reduce dependence on traditional trading partners. The $3 billion trade milestone represents significant growth in bilateral commerce and opens doors for expanded cooperation in key sectors.

Sources: BusinessDay Nigeria, Canada.ca Global Affairs, Voice of Nigeria, NAN News